Tata Consultancy Services Ltd (TCS) has leased 630,000 square feet of office space at Ozone Techno Park in Navalur, Chennai, at a monthly rent of Rs 28 million, according to documents accessed by property analytics firm Propstack.

The lease, which spans seven floors, commenced on 15 March 2025, and has a ten-year tenure with a three-year lock-in period until March 2028. The landlord for the property is Platinum Holdings Pvt Ltd, and TCS has reportedly paid a security deposit of Rs 255 million.

The rent is priced at Rs 45 per sq ft per month, with a 12 per cent escalation every three years. The premises includes 631 parking spaces, covering stilt and surface parking.

Email queries have been sent to both TCS and Platinum Holdings for comment. Responses were awaited at the time of publication.

This lease follows several large-scale commercial real estate transactions in Chennai’s booming IT corridors. In January, Walmart leased 460,000 sq ft in International Tech Park, Chennai, for Rs 32.6 million per month, with a deposit of Rs 195.5 million.

In March, Cognizant sold its India headquarters on Old Mahabalipuram Road (OMR) to Bagmane Constructions for Rs 6.12 billion, according to JLL, which facilitated the deal. The site spans 590,000 sq ft or 13.6 acres.

Previously, in August 2024, LTI Mindtree leased 585,000 sq ft in Manapakkam, Chennai, for a monthly rent of Rs 39.8 million.

These transactions highlight Chennai’s continued emergence as a key commercial and IT hub, particularly in suburbs along OMR and surrounding tech corridors.